Key points:
- Wynn Resorts secures a $2.4bn construction loan for Wynn Al Marjan Island
- The seven-year term loan is structured as a delayed draw facility in AED and USD
- Construction of the resort has reached the 34th floor, with topping off expected by December 2025
Wynn Resorts has finalised a $2.4bn loan facility to finance the development of Wynn Al Marjan Island, an integrated resort project in Ras Al Khaimah, United Arab Emirates (UAE).
The financing, secured through a syndicate of international and regional lenders, represents the largest hospitality loan in UAE history.
The seven-year term loan, structured as a delayed draw facility, provides Wynn Resorts with financial flexibility for the construction phase.
The loan is denominated in both AED and USD, reflecting the local currency requirements for development costs.
Abu Dhabi Commercial Bank and Deutsche Bank served as joint coordinators, with First Abu Dhabi Bank, Emirates NBD Capital, The National Bank of Ras Al Khaimah and Sumitomo Mitsui Banking Corporation among the lead arrangers.
Good to know: Construction of Wynn Al Marjan Island is ongoing, with 64% of the structural concrete completed. The resort tower has reached the 34th floor, with elevator cores extending to the 36th floor. The development reportedly remains on schedule, with topping off projected for December 2025.
The project includes 1,542 rooms and suites, with 80% of the tower’s rooms structurally completed. Interior fit-outs have begun in over 1,100 rooms, while exterior façade glazing is 20% complete. The low-rise buildings supporting the resort are 70% structurally finished and installation of elevators and escalators is progressing.
The integrated resort will reportedly include 22 dining and entertainment venues, a luxury shopping promenade, a 39,000 sq. foot pool area and a 145,000 sq. foot event space. A theatre with a resident show is also planned.
Located 50 minutes from Dubai International Airport, Wynn Al Marjan Island is a joint venture between Wynn Resorts, Marjan and RAK Hospitality Holding. The project follows Wynn Resorts’ receipt of the first-ever UAE commercial gaming licence in October 2024, allowing it to operate a gaming facility within the resort.
This development is expected to contribute to Ras Al Khaimah’s growing tourism industry, aligning with broader economic diversification efforts in the UAE.
